| Year-on-Year Inflation Rates, All Items | ||||
|---|---|---|---|---|
| Jun 2014 | May 2014 | Jun 2013 | Year-to-date | |
| Philippines | ||||
| Headline | 4.4 | 4.5 | 2.7 | 4.2 |
| Core | 2.8 | 3.1 | 2.8 | 3.0 |
| NCR | ||||
| Headline | 3.6 | 3.8 | 1.6 | 3.2 |
| AONCR | ||||
| Headline | 4.7 | 4.7 | 3.0 | 4.5 |
The country’s annual headline inflation slowed down to 4.4 percent in June. Its annual inflation last month was 4.5 percent and in June 2013, 2.7 percent. Slower annual increments were recorded in the indices of alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; transport; and recreation and culture.
Excluding selected food and energy items, core inflation eased to 2.8 percent in June. It was 3.1 percent last month and 2.8 percent during the same month a year ago.
Annual inflation in the National Capital Region (NCR) likewise improved to 3.6 percent in June. In May, it picked up by 3.8 percent and in the June 2013, it was registered at 1.6 percent. The annual hikes in the indices of alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; and recreation and culture decelerated during the month.
Annual inflation in Areas Outside NCR (AONCR) was pegged at 4.7 percent in June. This was the same rate observed last month. Inflation a year ago was 3.0 percent. The indices of health; communication; and education retained their previous month’s rate. A faster annual uptick was however noted in the heavily-weighted food and non-alcoholic beverages index while slower annual growths were posted in the rest of the commodity groups.
| Year-on-Year Inflation Rates in the Philippines, All Items January 2009 - June 2014 (2006=100) | ||||||
|---|---|---|---|---|---|---|
Month | Year | |||||
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | |
| January | 7.1 | 3.9 | 4.0 | 4.0 | 3.1 | 4.2 |
| February | 7.2 | 3.9 | 4.7 | 2.7 | 3.4 | 4.1 |
| March | 6.7 | 3.9 | 4.9 | 2.6 | 3.2 | 3.9 |
| April | 5.6 | 4.0 | 4.7 | 3.0 | 2.6 | 4.1 |
| May | 4.3 | 3.9 | 4.9 | 3.0 | 2.6 | 4.5 |
| June | 3.2 | 3.6 | 5.2 | 2.9 | 2.7 | 4.4 |
| July | 2.2 | 3.7 | 4.9 | 3.2 | 2.5 | |
| August | 1.7 | 4.1 | 4.6 | 3.8 | 2.1 | |
| September | 2.3 | 3.8 | 4.7 | 3.7 | 2.7 | |
| October | 2.9 | 3.3 | 5.2 | 3.2 | 2.9 | |
| November | 3.5 | 3.7 | 4.7 | 2.8 | 3.3 | |
| December | 4.4 | 3.6 | 4.2 | 3.0 | 4.1 | |
| Average | 4.2 | 3.8 | 4.6 | 3.2 | 3.0 | |
| Month-on-Month Inflation Rates, All Items (2006=100) | ||
|---|---|---|
| Jun 2014 | May 2014 | |
| Philippines | 0.4 | 0.5 |
| NCR | 0.2 | 0.5 |
| AONCR | 0.5 | 0.5 |
Increases in prices of consumer items at the national level slowed down to 0.4 percent in June. Prices of the heavily-weighted food items such as rice, garlic, sugar, pork, chicken, eggs and ginger went up during the month. Tuition fee hikes at the opening of classes for the current school year were also noted in many provinces. These were however tempered by the lower charges in electricity rates and price reductions in LPG, kerosene and firewood in NCR and in many provinces.
CONSUMER PRICE INDEX
(2006=100)
JUNE 2014
By Region, Year-on-Year
- Year-on-year inflation in NCR went down to 3.6 percent in June.
Annual inflation in AONCR remained at 4.7 percent in June. Ten regions recorded higher annual mark-ups while the rest of the regions had slower annual growths. The highest annual rate of 7.4 percent was still posted in Eastern Visayas while the lowest was in Central Luzon at 3.4 percent.
By Commodity Group, Year-on-Year
At the national level, movement in the indices of alcoholic beverages and tobacco slowed to 3.7 percent in June; housing, water, electricity, gas and other fuels, 2.3 percent; transport, 1.3 percent; and recreation and culture, 1.2 percent. The rest of the commodity groups either had faster annual growths or retained their last month’s rate.
The year-on-year growth of the food alone index in the Philippines climbed 7.8 percent in June 2014. It was pegged at 7.1 percent last month and 2.3 percent in June 2013.
Higher annual upticks were seen in the all the food groups except in fish and fruits indices. The annual gain of the fish index eased to 5.4 percent and in fruits index, 4.6 percent.
In NCR, the annual growth in alcoholic beverages and tobacco index improved to 5.3 percent; housing, water, electricity, gas and other fuels index, 1.0 percent; and recreation and culture index, 2.0 percent. The rest of the commodity groups either had higher annual increments or retained their last month’s rates.
The food alone index in NCR posted a 7.8 percent annual growth in June. Last month, its annual inflation was 6.9 percent and during the same period last year, 2.0 percent.
Double-digit annual rates were noticed in the rice index at 17.0 percent and in vegetables index, 12.3 percent. Faster annual mark-ups were also recorded in the indices of the following food groups: corn (2.6%); meat (5.1%); milk, cheese and egg (4.7%); and sugar, jam, honey, chocolate and confectionery (4.4%). The other food groups had slower annual upticks with the index of oils and fats still registering a negative annual rate.
In AONCR, the index of food and non-alcoholic beverages posted higher annual adjustment at 7.4 percent in June. Those for the rest of the commodity groups either remained at their last month’s growth or were at slower rates.
The annual change in the food alone index in AONCR climbed 7.8 percent in June. Its annual gain last month was 7.1 percent and 2.4 percent in the same month a year ago.
A double-digit annual increment was still observed in the rice index at 13.1 percent. Higher annual mark-ups were seen in all the regions except in Central Luzon, Bicol Region, Zamboanga Peninsula and SOCCSKSARGEN. The highest annual inflation of 18.1 percent was noted in Central Visayas while the lowest rate remained in Davao Region at 6.0 percent.
Except for fish and fruits indices, all the other food groups had higher annual gains. The annual growths in fish and fruits indices eased to 5.1 percent and 5.7 percent, respectively.
By Region, Month-on-Month
On a monthly basis, price hikes in consumer items in NCR was slower as it was computed at 0.2 percent. Last month, it grew by 0.5 percent. The index for housing, water, electricity, gas and other fuels dropped by 1.7 percent. A slower monthly hike was also noted in food and non-alcoholic beverages index at 1.2 percent. Those for the other commodity groups were either higher or remained their last month’s rate.
Increment in consumer prices in AONCR remained at 0.5 percent in June. This was mainly effected by the 1.0 percent growth in the heavily-weighted food and non-alcoholic beverages index. Faster monthly gains were also seen in the indices of recreation and culture at 0.2 percent and education, 4.8 percent. The other commodity groups either had slowed down or retained their last month’s rate.
Higher monthly add-ons were noted in eight regions with Davao Region and SOCCSKSARGEN recording the highest monthly rate of 0.9 percent.
Among the three big areas of the country, price additions were generally faster in Mindanao compared to Luzon and Visayas areas.
By Commodity Group, Month-on-Month
Prices of consumer items at the national level moved by 0.4 percent in June. The index of housing, water, electricity, gas and other fuels fell by 0.8 percent. Moreover, a slower monthly price increase was noticed in alcoholic beverages and tobacco index at 0.1 percent. The rest of the commodity groups either had higher monthly growths or retained their last month’s rate with the indices of transport and communication posting a zero growth.
Upsurge in the prices of garlic primarily pushed up the vegetables index in the three areas: Philippines, 6.3 percent; NCR, 9.0 percent; and AONCR, 5.9 percent. Supplies of garlic in the markets fell short than the targeted consumer requirements. Price increments in tomatoes, cabbage, carrots and pechay in many provinces also contributed to the uptrend.
The rice index in AONCR and at the national level accelerated 1.1 percent as nine regions had higher monthly price add-ons. The highest monthly growth of 2.9 percent was seen in Western Visayas. Similarly, the rice index in NCR rose 1.0 percent.
The soaring prices of pork resulted to the 1.1 percent growth in the meat index in NCR; 0.5 percent in AONCR; and 0.7 percent at the national level. Low supplies of pork in the markets raised its prices during the month. In addition, chicken and processed meat products were priced higher in many provinces.
The index for sugar, jam, honey, chocolate and confectionery gained 2.4 percent in NCR and in the Philippines and 2.3 percent in AONCR mainly brought about by higher prices of sugar.
Lower supplies of eggs during the month raised its prices in the markets. Moreover, prices of milk and cheese went up in many regions. Thus, the index for milk, cheese and egg inched up 0.4 percent in the Philippines; 1.3 percent in NCR; and 0.2 percent in AONCR.
The food products not elsewhere classified index in AONCR and in the Philippines registered growth rates of 1.1 percent and 1.8 percent, respectively as prices of ginger remained higher in many provinces. In addition, price mark-ups in selected spices, condiments and seasonings in many provinces were noted during the month. On the other hand, prices of selected spices and seasonings such as calamansi and ginger declined in NCR markets during the latter part of the month. Hence, the group’s index in the area dropped by 1.4 percent.
The favorable weather conditions that generally prevailed during the month allowed fishermen to increase their fishing trips. It resulted to ample supplies of fish in the markets, thereby decreasing their prices during the month. The group’s index in the Philippines and AONCR declined by 0.1 percent and in NCR, -0.6 percent.
The education index in the Philippines went up by 4.8 percent; NCR, 5.7 percent; and AONCR, 4.6 percent. This was due to tuition fee hikes recorded during the month, being the opening of classes for this school year.
With the increments in the prices of some items for personal care, the restaurant and miscellaneous goods and services index inched up 0.1 percent in the three areas.
Higher prices of clothing and footwear items brought about by bigger demand with the opening of classes during the month raised its group’s index in the Philippines by 0.3 percent; NCR, 0.4 percent; and in AONCR, 0.2 percent.
The index for housing, water, electricity, gas and other fuels in the Philippines went down by 0.8 percent; NCR, -1.7 percent; and AONCR, -0.5 percent. Lower charges in electricity rates and general downward price adjustments in LPG, kerosene and firewood were noted in many provinces.
Note:
CPIs and inflation rates by province and selected city are also available upon request at NSO, Industry and Trade Statistics Department, Economic Indices and Indicators Division (Telephone Numbers: 716-39-35 and 715-33-47).
(Sgd.) LISA GRACE S. BERSALES, Ph.D.
National Statistician
